U.S. District Judge Denise Cote on April 28 signed off on a $10 million settlement between the Federal Trade Commission and Alex Mashinsky, the founder of collapsed crypto lender Celsius Network, according to court documents.
The settlement permanently bans Mashinsky from promoting or operating any product or service involving the deposit, exchange, investment, or withdrawal of “assets” broadly, which could bar him from financial services beyond crypto.
The stipulated order enters a $4.72 billion monetary judgment against Mashinsky, though his actual cash payment to the FTC is capped at $10 million. That obligation will be considered satisfied if Mashinsky pays an equivalent amount to the Department of Justice under a separate forfeiture order tied to his criminal case, the court filing notes.
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